SKYX Platforms Corp. (NASDAQ:SKYX) Q3 2023 Earnings Conference Call November 13, 2023 4:30 PM ET Company Participants Rani Kohen - Founder and Executive Chairman Steve Schmidt - President Len Sokolow - Co-Chief Executive Officer Marc Boisseau - Chief Financial Officer Conference Call Participants Michael Legg - The Benchmark Company Leo Carpio - Joseph Gunnar Operator Good day, and welcome to the SKYX Platforms Corporation Third Quarter 2023 Investor Update Call. Today's webinar is being recorded. Before we ...

Revenue and Income - For the three months ended September 30, 2023, revenue was $21,617,579, a significant increase from $8,556 in the same period of 2022, representing a growth of approximately 252,000%[17] - The company reported revenues of $21,617,579 for the three-month period and $60,649,120 for the nine-month period, compared to $20,803,141 and $66,457,914 for the same periods in 2022, respectively[82] - Revenues for the three-month period ended September 30, 2023, were $21,617,579, compared to $20,803,141 for the same period in 2022, representing an increase of approximately 3.9%[82] - For the nine-month period ended September 30, 2023, revenues were $60,649,120, down from $66,457,914 in the same period of 2022, reflecting a decrease of approximately 8.6%[82] - The company generates income primarily from lighting and heating products sold mainly in the United States[81] Gross and Net Income - Gross income for the three months ended September 30, 2023, was $6,700,086, compared to $2,642 in the same period of 2022, indicating a substantial increase[17] - The company reported a gross margin of approximately 31% for the three months ended September 30, 2023, compared to a gross margin of 30.8% in the same period of 2022[17] - The net loss for the three-month period ended September 30, 2023, was $7,183,776, compared to a net loss of $5,658,666 for the same period in 2022, reflecting an increase in losses[17] - For the nine months ended September 30, 2023, the net loss was $27,412,260, compared to a net loss of $22,162,767 for the same period in 2022, representing a 23% increase in losses year-over-year[22] - The net loss for the nine-month period ended September 30, 2023, was $(26,430,206), compared to $(23,061,755) for the same period in 2022, showing a worsening financial position[82] Assets and Liabilities - Total current assets as of September 30, 2023, were $28,339,609, up from $16,329,657 as of December 31, 2022, showing a growth of approximately 73%[13] - Total assets increased to $78,343,255 as of September 30, 2023, compared to $43,177,110 as of December 31, 2022, representing an increase of about 81%[14] - Total liabilities as of September 30, 2023, were $61,287,547, compared to $35,049,878 as of December 31, 2022, indicating an increase of approximately 75%[14] - Total current liabilities increased to $31,333,702 as of September 30, 2023, from $7,424,378 as of December 31, 2022[14] - The accumulated deficit increased to $(133,482,618) as of September 30, 2023, from $(106,070,358) as of December 31, 2022[14] Cash Flow and Financing Activities - Cash flows from operating activities resulted in a net cash used of $10,092,363 for the nine months ended September 30, 2023, compared to $9,726,987 for the same period in 2022, indicating a 4% increase in cash outflow[22] - Cash provided by financing activities totaled $19,631,924 for the nine months ended September 30, 2023, compared to $20,707,617 in the same period of 2022, indicating a 5% decrease[22] - The company raised $8,723,461 from the issuance of common stock through offerings during the nine months ended September 30, 2023, compared to $23,100,000 in the same period of 2022, showing a 62% decrease[22] - The company reported cash, cash equivalents, and restricted cash of $22,111,119 as of September 30, 2023, up from $9,461,597 at the end of 2022, reflecting a 134% increase[33] Stock and Equity - Total stockholders' equity increased to $17,055,708 as of September 30, 2023, up from $12,264,861 at the end of the same period in 2022, reflecting a 39% growth[22] - The weighted average number of common shares outstanding during the three months ended September 30, 2023, was 91,081,313, compared to 81,562,681 for the same period in 2022[17] - The company issued 2,238,668 shares of common stock for services provided, valued at $13,109,135, during the nine months ended September 30, 2023[69] - The company issued 592,150 shares of common stock during the three months ended September 30, 2023, as part of its capital raising efforts[20] Acquisitions and Goodwill - The Company acquired Belami, Inc. for a total consideration of $20,340,641, which includes $4,206,200 in cash outlay and $7,327,716 in common stock issued[31] - Goodwill recognized from the acquisition of Belami amounts to $15,799,725, primarily due to expected synergies and the assembled workforce[32] - Goodwill from the acquisition of Belami is tested for impairment annually, with the carrying amount exceeding fair value leading to potential impairment losses[41] Expenses - Operating expenses for the three months ended September 30, 2023, were $13,221,689, compared to $5,609,119 for the same period in 2022, reflecting an increase of approximately 135%[17] - The company reported a depreciation and amortization expense of $2,098,935 for the nine months ended September 30, 2023, significantly higher than $194,698 in the same period of 2022[22] - The amortization expense for intangible assets was $642,943 for the nine months ended September 30, 2023, compared to $37,753 for the same period in 2022[52] - Interest expense associated with debt for the nine months ended September 30, 2023, was $1,214,920, compared to $172,421 in 2022[55] Accounts Receivable and Payable - The company had one third-party payor accounts receivable balance representing 24% of total accounts receivable as of September 30, 2023[79] - The company recorded accrued interest of $523,796 and trade payables of $10,346,558 as of September 30, 2023, leading to total accounts payable and accrued expenses of $11,308,671[65] - The company’s allowance for doubtful accounts was $54,987 as of September 30, 2023, compared to $0 as of December 31, 2022, indicating the establishment of a reserve for potential credit losses[35] Subsequent Events - Management evaluated subsequent events through November 13, 2023, with no events requiring adjustment to the consolidated financial statements[83] - The company has not reported any subsequent events that required adjustment to or disclosure in the consolidated financial statements as of November 13, 2023[83]

SKYX Platforms Corp. (NASDAQ:SKYX) Q2 2023 Results Conference Call August 9, 2023 10:30 AM ET Company Participants Rani Kohen - Executive Chairman John Campi - CEO Steve Schmidt - President Marc Boisseau - CFO Operator Good day, and welcome to the SKYX Platforms Corp. Investor Update Call. Today's webinar is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast including those regarding future financial results and industry pros ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SKYX PLATFORMS CORP. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SKYX PLATFORMS CORP. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of incor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SKYX Platforms Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization ...

Summary of SKYX Platforms Corp. Investor Presentation Event Company Overview - **Company**: SKYX Platforms Corp. (NASDAQ:SKYX) - **Industry**: Home and building markets, focusing on smart home technology and lighting solutions Key Points and Arguments 1. **Mission Statement**: The mission is to make homes and buildings safe and smart as a new standard, with a strong emphasis on protecting intellectual property, holding 60 global patents and 10 trademarks [5][6][12] 2. **Product Offerings**: The company aims to simplify installations, provide cost and time savings, and enhance safety through its products, which include smart plugs and receptacles [6][16] 3. **Market Potential**: The addressable market is over $500 billion in the U.S. alone, indicating significant revenue opportunities across various sectors including lighting, retail, and commercial/residential buildings [7][6] 4. **Regulatory Approvals**: Achievements include approvals from the National Electric Code (NEC), ANSI, and NEMA for their products, which are critical for market acceptance and safety standards [8][9][10][21] 5. **Safety Focus**: The products are designed to prevent hazardous incidents, with a focus on life-saving features, which is a key selling point for regulators and consumers alike [19][30] 6. **Upcoming Product Launches**: The company plans to start pre-sales for its generation one products in December, with significant marketing efforts planned for CES and Lightovation events [11][27][35] 7. **Cash Position**: The company has approximately $21 million in cash, expected to last for 18 to 24 months, allowing for strategic growth and product launches [11][43] 8. **Team and Leadership**: The leadership team includes experienced professionals from various industries, enhancing the company's strategic direction and operational capabilities [13][14][15] Additional Important Content 1. **Innovative Technology**: The company’s products are designed to eliminate the need for hazardous installations, reducing the risk of injuries associated with traditional methods [18][30] 2. **Consumer Engagement**: Plans to engage with key opinion makers and utilize social media to generate buzz around the technology and products, focusing on safety education [52] 3. **Global Licensing Opportunities**: The company is exploring global licensing agreements, which could expand its market reach and influence [7][35] 4. **Future Mandates**: There is potential for regulatory mandates regarding the use of their products, which could significantly boost demand [50][56] This summary encapsulates the core aspects of the investor presentation, highlighting the company's strategic direction, product offerings, market potential, and regulatory achievements.

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SKYX Platforms Corp. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SQL TECHNOLOGIES CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SQL TECHNOLOGIES CORP. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of incorpor ...